Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance Contracts topic
No spam. Unsubscribe anytime.
Delaware County approves one-year property/casualty admin agreement, cuts administration fees roughly in half
Summary
Commissioners approved a one-year client services and fee agreement that reduces the county's insurance administration fee from an estimated $162,500 (commission basis) to an $80,000 flat fee, moving to a Chubb/Apex placement and shifting some risk to the county while lowering annual administrative costs.
Delaware County commissioners on March 2 approved a one-year client services and fee agreement for property, casualty and auto liability coverage that reduces the county's administration fee from an estimated $162,500 under a commission basis to an $80,000 flat fee.
Staff reported the change accompanies a placement that moves more risk to the county under a Chubb/Apex combination while lowering premiums and administration fees. A county representative told the board the reduction equates to about a 51% savings in administrative cost compared with previous arrangements.
Commissioners voted to approve the one-year agreement and signed the related fraud warning supplement and client services and fee agreement documents. Supporters said if county departments better manage nuisance claims over time, the county could realize additional year-over-year savings.
The motion passed by roll call with all commissioners recorded as voting yes.
